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September 5, 2018

Amazon is 2nd U.S. firm to reach $1T

  • Saudi Arabia's national energy company, Aramco, is widely believed to be worth much more than either Amazon or Apple.
  • By JOSEPH PISANI and MARLEY JAY
    AP Business Writers

    NEW YORK — Amazon on Tuesday became the second publicly traded company to be worth $1 trillion, hot on the heels of iPhone maker Apple.

    Launched as an online bookstore in 1995, Amazon.com has changed the way people shop for toilet paper, TVs and just about anything else. In its two decades, the company has expanded far beyond those bookseller beginnings, combining its world-spanning retail operations with less flashy but very profitable advertising and cloud computing businesses. It's now expanding into the health care industry and increasing its brick-and-mortar presence.


     
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